fisho, i didn't come down in the last shower and understand where you are coming from.
I believe resolution 1 is to allow for the further issue before december and would only be used as a contingency if debt funding isn't available even though IFE seem to think people are falling over themselves to help fund the project.
I agree, the possibility that this huge number of new shares can potentially be issued and solely to sophisticated and professional investors at an 80% discount is shocking. Whether that happens or not is another question, resolution 3 sounds like they are set on doing at least 11 million shares worth.
I'm getting to the point where i'm pretty much over blowing my stack about it. Noone replied to my email and they clearly dont have much respect for shareholders. If I haven't made significant gains on my funds by March 2012 i'll simply sell my holding. Its one thing to disrespect shareholders and line their own pockets, but its another thing to do so while the share price doesn't move and if thats the case once were in production i wont be impressed.
TRF Price at posting:
36.0¢ Sentiment: None Disclosure: Held
